SOURCE: OpenPages

October 03, 2005 09:59 ET

ECC Capital Corporation Selects OpenPages SOX Express for Sarbanes-Oxley Compliance

WALTHAM, MA -- (MARKET WIRE) -- October 3, 2005 -- OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced that ECC Capital Corporation has selected OpenPages Sarbanes-Oxley Express (SOX Express) for its Sarbanes-Oxley compliance initiatives. ECC Capital will deploy SOX Express to automate the company's ongoing test and review of its internal controls documentation in order to reduce the time and resource costs associated with compliance with Sections 404 and 302 of the Sarbanes-Oxley Act of 2002.

"OpenPages will assist us in achieving our compliance goals by streamlining processes that reduce time and resource costs," said Paul Leone, director of internal audit at ECC Capital. "SOX Express will help us to distribute the workload of Sarbanes-Oxley compliance throughout the organization with minimal training, reducing the additional workload on our employees."

ECC Capital Corporation, headquartered in Irvine, Calif., is a mortgage finance real estate investment trust (REIT) that originates and invests in residential mortgage loans. Through its wholesale and retail subsidiaries, ECC Capital offers a series of mortgage products to borrowers, with a particular emphasis on "nonconforming" borrowers who generally do not satisfy the credit, collateral, documentation or other standards required by conventional mortgage lenders and loan buyers. ECC Capital is structured to qualify as a REIT by managing a portfolio of nonconforming loans it originates or acquires. As a REIT, ECC Capital's principal business objective is to generate net income for distribution to stockholders from the spread between the interest income on its assets in its portfolio and the costs of capital to finance its acquisition of these assets.

OpenPages SOX Express is the market-leading software solution for reducing the time and resource costs associated with ongoing compliance for Sections 302 and 404 of the Sarbanes-Oxley Act. SOX Express combines powerful document management, business process management and flexible reporting capabilities in an extremely easy-to-use environment that enables an organization to document financial controls and automate the end-to-end compliance process. Completely Web-based, SOX Express maximizes end-user participation with little training. Its dashboards can be used by project managers, documentation team members, internal auditors and external auditors to plan, document and test the internal controls framework of the company, and to attest to the financial statements.

For more information on OpenPages' line of enterprise governance, risk and compliance management solutions or to register for a weekly webinar, please call 781-647-3800 or visit www.openpages.com.

About OpenPages

Founded in 1996, OpenPages is the leading provider of enterprise governance, risk and compliance management (GRCM) software solutions. OpenPages' solutions streamline knowledge-intensive processes to improve corporate accountability, reduce disclosure process cost, enhance internal controls management productivity, and increase investor confidence. The company's portfolio of solutions includes SOX Express, the market-leading enterprise application for automating the compliance requirements of Sections 404 and 302 of the 2002 Sarbanes-Oxley Act, and OPtimum ORM, an enterprise risk management software solution that enables entities to identify, analyze and manage operational risk on an integrated, company-wide basis. The world's largest corporations in diverse markets -- including financial services, manufacturing, telecommunications, media/entertainment, retail/consumer, energy, high technology, health services and life sciences -- rely on OpenPages for cost-effective, efficient, sustainable governance, risk and compliance management. The company is headquartered in Waltham, Massachusetts, with international headquarters in the United Kingdom and Hong Kong, and regional offices throughout North America.

OpenPages is a trademark of OpenPages, Inc. All other trademarks contained herein are the property of their respective owners.

Contact Information

  • Contacts:

    OpenPages
    Ed Thomas
    OpenPages
    781.647.3800, ext. 241
    Email Contact

    North America
    Mike Antonellis
    Lois Paul & Partners
    781.782.5832
    Email Contact

    Europe
    Louise Matthews
    Harvard Public Relations
    +44 208 759 0005O
    Email Contact